Korea

U.S.-KOREA FREE TRADE AGREEMENT

On February 2, 2006, the U.S. and the Republic of Korea announced their intentions to negotiate a free trade agreement with the goal of removing tariffs and non-tariff barriers and expanding trade between the two countries. Negotiations commenced in June 2006, with a second round held in July.  A third round of negotiations occurred in September 2006. In June 2007 the International Trade Commission held a public hearing as part of their report to the Congress.

To see the USTR fact sheet on the agreement, click here.

CSI DOCUMENTS AND ACTIVITIES

October 12, 2011: CSI Welcomes Passage of Free Trade Agreements: Historic Vote Will Open Colombia, Korea, Panama Markets to U.S. Service Providers.

October 3, 2011:CSI Welcomes White House's decisions to submit to Congress the pending U.S. free trade agreements.

December 10, 2010: Read how the United States benefits from the Korea FTA.

September 23, 2010: Representatives Erik Paulsen and Walt Minnick pen editorial urging passage of FTAs.

November 16, 2009: CSI Applauds President Obama's Focus on Korea Free Trade Agreement, Trans Pacific Partnership.

September 15, 2009: CSI submitted a statement on the benefits of the US-Korea Free Trade Agreement, in response to USTR's requests for comments.

April 21, 2008: The Coalition of Services Industries Welcomes Breakthrough on Full Reopening of Korea's Market to U.S. Beef.

June 30, 2007: Coalition of Service Industries Expresses Strong Support for US-Korea; Urges Swift Congressional Passage.

June 20, 2007: Coalition of Service Industries statement to the International Trade Commission on the benefits to the service sector in the US-Korea Free Trade Agreement.

April 2, 2007: Coalition of Service Industries Expresses Strong Support for US-Korea FTA.

March 14, 2006: CSI prepares written testimony on the FTA between the U.S. and Korea for the Trade Policy Staff Committee of the Office of the United States Trade Representative.

February 2, 2006: CSI sees opportunity for substantial service sector liberalization in US-Korea free trade agreement negotiations.

Services Drive Growth

The Service Economy

Services represents approximately 75% of US economic output and about 80% of US private sector employment. In 2010, US private services exports exceeded $526 billion, and had a services trade surplus of approximately $168 billion.

Services are essential inputs into the production of virtually all products.  The price and quality of services influence costs and productivity in all other sectors in an economy, including manufacturing and agriculture.  Thus, when liberalized and made more efficient, services have a strong effect in the competitiveness of an entire economy.  For more data and statistics on the service economy, click here.

About CSI

CSI is the leading business organization dedicated to the development of U.S. domestic and international policies that enhance the global competitiveness of the U.S. service sector through bilateral, regional, multilateral, and other trade and investment initiatives.
For more information, click here...